Zacks Research Upgrades OptimumBank (NASDAQ:OPHC) to Strong-Buy

OptimumBank (NASDAQ:OPHC) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other analysts also recently weighed in on OPHC. Brean Capital began coverage on OptimumBank in a report on Monday, April 20th. They issued a “buy” rating and a $7.00 target price for the company. Compass Point upgraded shares of OptimumBank from a “neutral” rating to a “buy” rating and increased their target price for the stock from $6.00 to $6.50 in a research note on Wednesday, May 13th. Finally, Alliance Global Partners started coverage on OptimumBank in a report on Tuesday, April 7th. They issued a “buy” rating and a $6.50 target price on the stock. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, OptimumBank has a consensus rating of “Buy” and a consensus price target of $6.67.

OptimumBank Trading Up 5.7%

Shares of OptimumBank stock opened at $7.05 on Monday. The company has a fifty day simple moving average of $5.79 and a 200-day simple moving average of $5.40. OptimumBank has a 12-month low of $3.91 and a 12-month high of $7.10. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43. The stock has a market cap of $86.49 million, a price-to-earnings ratio of 5.34 and a beta of 0.29.

Institutional Trading of OptimumBank

Several institutional investors and hedge funds have recently modified their holdings of the business. Globeflex Capital L P purchased a new position in OptimumBank during the first quarter worth $62,000. Brown Advisory Inc. acquired a new stake in shares of OptimumBank during the second quarter worth $89,000. Goldman Sachs Group Inc. lifted its position in OptimumBank by 24.8% during the first quarter. Goldman Sachs Group Inc. now owns 28,809 shares of the bank’s stock worth $118,000 after buying an additional 5,720 shares during the period. Susquehanna International Group LLP increased its stake in shares of OptimumBank by 112.2% during the 3rd quarter. Susquehanna International Group LLP now owns 46,460 shares of the bank’s stock valued at $190,000 after acquiring an additional 24,569 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in OptimumBank by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 110,200 shares of the bank’s stock valued at $468,000 after purchasing an additional 15,500 shares during the period. Hedge funds and other institutional investors own 7.43% of the company’s stock.

About OptimumBank

OptimumBank, Inc (NASDAQ:OPHC) is a Texas-chartered commercial bank holding company headquartered in Dallas, Texas, with community banking operations primarily in Texas and South Florida. Founded in 2005, OptimumBank delivers a full suite of deposit and lending products designed to meet the needs of small-to-medium sized businesses, real estate developers, and individual consumers. Through its network of full-service branches and digital platforms, the bank focuses on relationship-driven banking and personalized service.

On the lending side, OptimumBank offers commercial real estate financing, including construction loans, permanent mortgage loans, and land acquisition facilities.